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1) Suppose a firm invents a technology that reduces its costs so far that it can drive all of its competitors out of business, even though the price that maximizes the firm's profits is well above its marginal costs. Would consumers be better off if this firm was forbidden from introducing its cost-saving technology?
Baseballer02 wrote:2) Some music groups are in favor of allowing people to distribute their songs at no charge through P2P networks, while other are strongly opposed. Can you suggest why there are these differences?
Baseballer02 wrote:4) Some people argue that copyright protection and patent protections should be abolished, because the owners of patents and copyrights are effectively monopolists when it comes to supplying the goods for which they have these rights. What do you think would happen to the rate of innovation if patents and copyrights were abolished? What would be the likely impact on the well-being of consumers?
Rico The Retard wrote:microeconomics starts with an M and it has 14 letters.....i hope that helps
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